Outcome of Meeting of Board of Directors of IMP Powers Limited ('Company') held on Friday, 30th May, 2025.
Awaiting price reaction for this filing.
IMP Powers Limited's Board approved audited standalone and consolidated financial results for FY ending March 31, 2025, along with a qualified audit opinion from BJS and Associates. The company reported a standalone net loss of Rs. 211.87 lakhs and total income of Rs. 1,325.95 lakhs. Consolidated net loss stood at Rs. 535.94 lakhs. Net worth is fully eroded at negative Rs. 26,997 lakhs. The auditor flagged qualifications around going concern, pending final distribution order, non-provisioning of finance costs, unreconciled trade receivables, tax balance reconciliation, and lack of impairment testing. The company emerged from IBC liquidation (admitted Dec 2023), was sold to a highest bidder as going concern for Rs. 78 crore, and new management has taken over.
This filing reveals a company in deep financial distress with a qualified audit opinion citing going concern uncertainty. Shareholders face significant risk as net worth is fully eroded, losses continue, and the company's revival depends on the new management's ability to turn around operations post-IBC acquisition. The stock is likely to remain highly volatile and risky.